TeamPraxis LLC: Company Profile

Background

Overview

Founded in 1992, TeamPraxis LLC is a premier provider of healthcare IT solutions based in Honolulu, Hawaii. The company specializes in delivering comprehensive business and clinical solutions to independent healthcare providers, including practice management, electronic health records (EHR), clinical quality solutions, and practice transformation services. With a dedicated team of 155 professionals, TeamPraxis has established itself as a leading physician service organization in Hawaii and an innovator in healthcare IT solutions nationwide.

Mission and Vision

TeamPraxis is committed to empowering independent physicians by providing tools and services that enhance patient care and operational efficiency. The company's vision is to build a comprehensive Physician Information Network that enables healthcare providers to deliver high-quality, patient-centered care while achieving financial sustainability.

Key Strategic Focus

Core Objectives

TeamPraxis focuses on supporting independent healthcare practices by offering tailored solutions that address the unique challenges faced by small clinics and solo physicians. The company's objectives include:

Enhancing operational efficiency through integrated practice management systems.

Improving patient care quality via advanced EHR solutions.

Facilitating practice transformation to adapt to evolving healthcare models.

Areas of Specialization

The company specializes in:

Practice management software.

Electronic health records (EHR) systems.

Clinical quality improvement tools.

Practice transformation services.

Key Technologies Utilized

TeamPraxis employs a range of technologies to deliver its services, including:

Microsoft SharePoint for content management.

Cloudflare for security and performance optimization.

Bootstrap for responsive web design.

Primary Markets Targeted

The company's primary market consists of independent healthcare providers in Hawaii, particularly small clinics and solo physicians. By focusing on this segment, TeamPraxis addresses the specific needs of independent practices, offering solutions that promote autonomy and financial viability.

Financials and Funding

Funding History

Specific details regarding TeamPraxis's funding history are not publicly disclosed. However, the company has achieved significant milestones, including:

Achieving Meaningful Use certification in 2011, enabling Hawaii physicians to receive federal incentive funds.

Launching the Population Health program in 2012 to support patient-centered care initiatives.

Introducing Sagely in 2014 to enhance calendar and activity management for senior living communities.

Recent Developments

In May 2024, TeamPraxis's revenue cycle management business was acquired by Harris Computer Corporation, a move that is expected to expand the company's reach and capabilities in the healthcare IT sector.

Pipeline Development

Key Pipeline Candidates

TeamPraxis's primary offerings include:

ConnxtMD™: A revenue cycle management service designed to optimize cash flow and improve medical billing processes for healthcare providers.

InsightsAI: An AI-driven tool integrated with ConnxtMD™ that identifies potential collection issues, ensuring comprehensive claims recovery.

Sagely: A platform launched in 2014 to provide calendar and activity management solutions for senior living communities.

Stages of Development

These products are fully developed and actively utilized by healthcare providers, with ongoing enhancements to meet evolving industry needs.

Target Conditions and Timelines

The solutions are designed to address operational challenges in healthcare practices, including:

Revenue cycle inefficiencies.

Clinical quality improvement.

Practice transformation for value-based care models.

Anticipated Milestones

With the acquisition by Harris Computer Corporation, TeamPraxis anticipates further integration and expansion of its product offerings, aiming to enhance service delivery and market reach.

Technological Platform and Innovation

Proprietary Technologies

TeamPraxis has developed proprietary solutions such as ConnxtMD™ and InsightsAI, which leverage advanced technologies to improve revenue cycle management and operational efficiency for healthcare providers.

Significant Scientific Methods

The company employs data-driven approaches, utilizing AI and machine learning algorithms within InsightsAI to analyze and optimize claims recovery processes.

Leadership Team

Key Executives

Creighton Arita: CEO and LLC Manager.

Danette Maruyama: Vice President of Client Relations.

Michelle Honke: Executive Team Member.

Daniel Arita: LLC Manager.

Clyde Shiigi: LLC Manager.

Michael Gold: LLC Manager.

Fred Delse: President.

Professional Backgrounds and Contributions

The leadership team brings extensive experience in healthcare IT and management, contributing to the company's growth and innovation in the sector. Their collective expertise has been instrumental in developing solutions that cater to the unique needs of independent healthcare providers.

Competitor Profile

Market Insights and Dynamics

The healthcare IT solutions market is experiencing significant growth, driven by the increasing adoption of electronic health records, the shift towards value-based care, and the need for efficient revenue cycle management. Independent healthcare providers are seeking solutions that enhance operational efficiency and financial performance.

Competitor Analysis

Key competitors in this space include:

Kinetix: Offers healthcare IT solutions with a focus on revenue cycle management and practice optimization.

SimplicityHR by ALTRES: Provides human resources and payroll services tailored for healthcare providers.

Strategic Collaborations and Partnerships

In 2011, TeamPraxis partnered with Microsoft to integrate the Amalga health care data-aggregation platform into its services, enhancing data management capabilities for healthcare providers.

Operational Insights

TeamPraxis differentiates itself through its deep understanding of the unique challenges faced by independent healthcare providers in Hawaii, offering tailored solutions that promote autonomy and financial sustainability.

Strategic Opportunities and Future Directions

Strategic Roadmap

The acquisition by Harris Computer Corporation presents opportunities for TeamPraxis to expand its product offerings and integrate with a broader range of healthcare IT solutions, enhancing service delivery and market reach.

Future Business Directions

The company plans to leverage its enhanced capabilities to:

Expand its presence beyond Hawaii.

Develop new solutions that address emerging challenges in healthcare.

Strengthen partnerships with healthcare providers to deliver comprehensive, integrated services.

Opportunities for Expansion

By integrating with Harris Computer Corporation, TeamPraxis is well-positioned to offer a more extensive suite of services, catering to a broader range of healthcare providers and addressing a wider array of operational challenges.